The Canadian Real Estate Association (CREA), released national sales statistics for the month of March, 2016this week. According to the CREA, “The number of homes trading hands via Canadian MLS® Systems rose by 1.5 percent month-over-month to set a new all-time record in March 2016. Though sales edged lower in Greater Vancouver (-0.3%) and the Greater Toronto Area (GTA) (-1.8% m-m), both remain near record highs reached the month before."
Sales in March were up from the previous month in about 60 percent of all local markets, including Victoria, Chilliwack, the Okanagan Region, Edmonton, Calgary, Woodstock- Ingersoll, Kingston, Barrie and Montreal.”
Highlights of CREA's report
- National home sales rose by 1.5% from February to March.
- Actual (not seasonally adjusted) activity was up 12.2% compared to March 2015.
- The number of newly listed homes fell by 1.4% from February to March.
- The MLS® Home Price Index (HPI) rose 9.1% year-over-year in March.
- The national average sale price rose 15.7% on a year-over-year basis in March (net of Greater Vancouver and Greater Toronto, it climbed by 10.4 percent year-over-year).
Read the entire report on Canadian MLS® sales for March, 2016.
See also: CREA's forecast for 2016
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Norm Fisher
Royal LePage Vidorra